While cleaning out our year end inventory, we found an item with a wrong unit of measure, but a correct value. We didn't have 3 million feet of bubble wrap on hand, but if we could have gotten that for $1,100 it would be a steal. So the value is right, the quantity is wrong and I'm staring at this trying to figure out how to adjust the quantity without affecting the GL (because $1,100 is the right value) and without screwing up anything else.
Then it hit me, write the whole thing off. Bring the count and the GL value to 0 and then write the whole thing back on at the correct unit of measure and the same value.
It worked perfectly. No SQL adjustments, no inventory transactions that didn't post to the GL to explain to the auditors. Last cost is correct. FIFO layers are correct.
This year end stuff turns my brain to mush, I'm going home!
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